Difference between economy and economics

1.	Difference between economy and economics
Answer» Economy is a system by which people of an area earn their living.Economic is a science of human behaviour concerned with the allocation of scarce means in such a manner that consumer can maximise their satisfaction, producers can maximize their profits and the social can maximise it\'s social welfare.<br>Economics is that branch of knowledge in which those activities of human beings are studied which they undertake to acquire scarce to satisfy their unlimited wants and economy is a system by which people of an area earn their living

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